Transportation Industry
IMF Says Less Reliance on U.S. Exports Helps Global Economy During Slowdown
Transport Topics, April, 2007 by Swann, Christopher; McQuillen, William
The global economy probably will weather a slowdown in U.S. growth as dependence on exports to America diminishes, the International Monetary Fund said.
"Most countries should be in a position to 'decouple' from the U.S. economy and sustain strong growth if the U.S. slowdown remains as moderate as expected," the IMF said in a paper published in its semiannual World Economic Outlook.
The slump in housing has been "U.S.-specific," with limited effects abroad, particularly because imports make up a small share of the industry, the lender said earlier this month. Weakness in housing and manufacturing "has been contained even in the United States," the IMF added.
Countries including China, Japan and Germany run large trade surpluses with the United States, suggesting a...
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